Sensex, Nifty consolidate ahead of RBI policy; Tata Steel falls
The market continued to consolidate ahead of RBI policy. The Sensex rose 46.71 points to 24871.54 and the Nifty advanced 7.70 points to 7563.65. The market breadth was positive as nearly two shares advanced for every share declining on the Bombay Stock Exchange.
The Reserve Bank of India is unlikely to take any interest rate action at the monetary policy meeting today. The market seems to have factored in a no-action policy from RBI chief Raghuram Rajan at the bi-monthly meet, according to a CNBC-TV18 poll of economists. The RBI is also likely to maintain the word 'accommodative policy' in its monetary policy statement.
Tata Steel, ONGC, Coal India, GAIL, BHEL, Vedanta, Cairn India and Tech Mahindra were down 1-3 percent while Bharti Airtel, Dr Reddy's Labs, Lupin, Bajaj Auto, Infosys and Power Grid Corporation gained 1-2 percent.
RESULT’S ON 2ND FEB 2016 :
DLF, HSIL, TATA COMM, TUBE INVESTMENT, WELSPUN INDIA
Trend in FII flows:
The FIIs were net sellers of Rs -253.88 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 535.70 Cr, as per the provisional figures released by the NSE.
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